LPSC (M)/PT/04/2013-14 (sl No 3) - ISRO

Sr.
No.
Commercial terms
free of cost.
23. Supply and installation is subject to
Purchaser’s acceptance.
24. LC extension charges to your account, in case
of delay from your side.
25. Items from latest production batch only are to
be supplied.
26. Wherever Export Licence required, payment
will be made after getting export licence and
after confirmation by the supplier, with a copy
of Export Licence.
27.
27.1
27.2
27.2.1
Bank Guarantees (from Nationalised/
Scheduled Bank/ Bank approved by Purchaser.
Advance payment for the equal value valid till
the completion of contract/acceptance, is to be
provide by you.
Towards issue of “Free Issue Material” by
Purchaser for the value of the material issued,
is to be provided.
The Bill of material for the material used for the
Fabrication work and available balance to be
prepared by you and countersigned by the
User Department is to be sent along with the
final bill for arranging the balance/payment.
Compliance
27.3
Towards Performance of the Contract and
Product for 10% value valid till the expiry of
warranty period.
28. Security Deposit is to be submitted to LPSC by
the successful bidder (wherever applicable )on
awarding the contract
29. Training – free of cost – to be imparted at
Purchaser’s site.
30. Bank charges wherever applicable shall be paid
by Purchaser/Contractor to their respective
Bankers.
31. Arbitration proceedings –
1. Within India as per provisions of
Arbitration and Conciliation Act 1996.
2. Outside India – as per ICC Rules.
32. Liquidated Damages - @ 0.5% per week for the
delayed portion – maximum 10% of the
contract value.
33. Force Majeure conditions applicable?
34. Acceptance of Fall clause.
“The rates as per the charges of the Contract